ALL BANKING FACILITIES IN THE USA Informative - BEWARE WHEN CLOSING CHECKING ACCOUNTS
SAN ANTONIO, TEXAS -- I recently had to close out my checking account with my Credit Union due to fraudulent withdrawals. I did so on the advice of bank personel. I was told all outstanding checks and electronic withdrawals would be honored. I was never asked to sign anything. I gave a list of outstanding debits and was verbaly assured they would all be honored.
For 19 days following the closure of the account and the opening of a new account I received messages from creditors that my payment was past due and in some cases, over limit since the fees attached to such situations brought the account balance over limit.
Each day for 17 days I would call the bank and each person I spoke with (all but the last one) found my situation beyond their banking knowledge and all put me on hold to confir with their supervisor. Most told me I had no recourse but to pay the fees and that the bank was not responsible to clearing checks on closed accounts.
BTW, my savings account did not change. There was enough money in it to cover all the checks that were not honored by the bank.
On the 17th day I had had enough and told the bank personel I would be calling the Bank President. I called and asked for the number by which I could reach he or she. I was immediately put thru to a wonderful woman who promised she would clear up the entire mess and all checks and electronic payments would be honored and all attached fees would be credited to my account.
This is a warning. NEVER close out an account until all checks and payments have cleared regardless of the situation. Banks are too large today and too automated to perform specific actions as my situation called for.